CFPB's deadline looms for BNPL players, Payments Dive

A Payments Dive article reports on the approaching March 1 deadline for major “buy now, pay later” (BNPL) firms to provide their responses to the Consumer Financial Protection Bureau (CFPB). Looking at the potential impact of the CFPB’s probe on the greater payments industry, the article cites a Bloomberg Law article co-authored by of counsel Eamonn Moran and partner Robin Nunn, noting that “even without additional federal regulation, the digital-payments industry should expect increased scrutiny and oversight.”

Whether or not it leads to enforcement, "it sends a strong signal to all fintech firms and retail partners that regulators are questioning the degree to which consumers could face risk," Eamonn and Robin wrote.

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